You Are Never, Ever Going to Retire

OK, “never” might be too strong. But, not by much according to a new AARP study:

72 percent of non-retired boomers believe they will probably be forced to delay retirement, and 50 percent have little confidence that they will ever be able to retire.

65 percent have little confidence that they will have the means to live comfortably in retirement.

Clearly these finding belie the standard image of happy Baby Boomers that are safe and secure in their third stage of life. (That’s why I wrote my book.)

From the AARP website:

“The poll results show that “people in this age group are facing a difficult transition, and they’re worried about whether they can do it,” says Jacquelyn James of the Sloan Center on Aging & Work at Boston College. “Most people had planned for a three-legged stool that would give them a happy, healthy retirement: a pension, their own savings and Social Security and Medicare.

“But over the past 15 years, pensions have been disappearing, and their investments have been hit hard by the downturn. Now, they’re worrying that politicians are not going to continue to support the entitlement programs. That’s why some are feeling that they need to add a fourth leg to the stool: continuing to work.”

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One Comment

  1. Yes, it seems to me now that would it have been a good idea to join the New York City Police Department. I love this quote from a NY Times article… “Some will receive the big pensions for decades. Thirteen New York City police officers recently retired at age 40 with pensions above $100,000 a year; nine did so in their 30s.” from: “Padded Pensions Add to New York Fiscal Woes”, 2010

    Like Margaret Thatcher said, “The trouble with socialism is that you eventually run out of other people’s money.”

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